ANKARA - Turkey and the International Monetary Fund (IMF) delegation headed by Turkey Desk Chief Reza Moghadam agreed on draft letter of intent, Turkish State Minister Ali Babacan said on Tuesday.
Babacan held a joint press conference with Moghadam after the eighth review talks were completed early on Tuesday.
Turkish State Minister Babacan said that Turkey and IMF discussed the structure of their relations in and after 2005.
Babacan emphasized that IMF Executive Directors were expected to complete the eighth review after Turkey submitted the letter of intent and before the Executive Board recessed in the second week of August.
IMF is expected to release about 660 million U.S. dollars of loan for Turkey after it completed the eighth review.
IMF delegation headed by Moghadam came to Turkey on June 2. IMF delegation met with administrators of Banks Association of Turkey, Turkish Exporters' Assembly (TIM), Independent Industrialists' and Businessmen's Association (MUSIAD), Turkish Industrialists' and Businessmen's Association (TUSIAD) in Istanbul till June 7.
The delegation proceeded from Istanbul to Ankara on June 7. IMF European One Director Michael Deppler and IMF Executive Director Willy Kiekens also came to Ankara to join talks as 8th review discussions of the stand-by deal.
IMF delegation met wit Turkish State Minister Kursad Tuzmen, Finance Minister Kemal Unakitan, Industry and Trade Minister Ali Coskun, State Minister and Deputy Prime Minister Mehmet Ali Sahin, Labor and Social Security Minister Murat Basesgioglu, Confederation of Employers' Unions (TISK) Chairman Refik Baydur and State Minister Ali Babacan till June 8.
(BRC-AÖ) 22.06.2004